Shoe Carnival (SCVL) Downgraded by ValuEngine to “Hold”

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Shoe Carnival (NASDAQ:SCVL) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

A number of other brokerages have also recently commented on SCVL. Pivotal Research cut Shoe Carnival from a “buy” rating to a “hold” rating and raised their target price for the company from $43.00 to $45.00 in a report on Tuesday, September 4th. BidaskClub upgraded Shoe Carnival from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 30th. Zacks Investment Research cut Shoe Carnival from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 31st. Finally, Wedbush lowered their target price on Shoe Carnival from $47.00 to $45.00 and set an “outperform” rating for the company in a report on Friday, November 16th. Four research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $38.60.

NASDAQ SCVL opened at $35.07 on Thursday. The firm has a market cap of $587.25 million, a PE ratio of 23.54 and a beta of 0.73. Shoe Carnival has a twelve month low of $21.01 and a twelve month high of $45.00.

Shoe Carnival (NASDAQ:SCVL) last released its quarterly earnings results on Thursday, November 15th. The company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.15. The business had revenue of $269.18 million during the quarter, compared to analysts’ expectations of $265.40 million. Shoe Carnival had a return on equity of 12.51% and a net margin of 3.17%. As a group, research analysts predict that Shoe Carnival will post 2.38 earnings per share for the current year.

In related news, Director Kent A. Kleeberger sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, November 21st. The stock was sold at an average price of $36.77, for a total transaction of $55,155.00. Following the completion of the transaction, the director now directly owns 14,960 shares in the company, valued at approximately $550,079.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 22.70% of the company’s stock.

A number of hedge funds have recently bought and sold shares of SCVL. Acadian Asset Management LLC raised its position in Shoe Carnival by 125.7% in the 3rd quarter. Acadian Asset Management LLC now owns 409,843 shares of the company’s stock valued at $15,779,000 after purchasing an additional 228,244 shares in the last quarter. AQR Capital Management LLC raised its position in Shoe Carnival by 163.2% in the 3rd quarter. AQR Capital Management LLC now owns 244,488 shares of the company’s stock valued at $9,413,000 after purchasing an additional 151,586 shares in the last quarter. Citadel Advisors LLC raised its position in Shoe Carnival by 110.9% in the 2nd quarter. Citadel Advisors LLC now owns 256,079 shares of the company’s stock valued at $8,310,000 after purchasing an additional 134,651 shares in the last quarter. BlackRock Inc. raised its position in Shoe Carnival by 7.3% in the 2nd quarter. BlackRock Inc. now owns 1,648,258 shares of the company’s stock valued at $53,485,000 after purchasing an additional 112,623 shares in the last quarter. Finally, American Century Companies Inc. raised its position in Shoe Carnival by 146.6% in the 3rd quarter. American Century Companies Inc. now owns 158,667 shares of the company’s stock valued at $6,109,000 after purchasing an additional 94,328 shares in the last quarter. 81.61% of the stock is currently owned by institutional investors.

Shoe Carnival Company Profile

Shoe Carnival, Inc, together with its subsidiaries, operates as a family footwear retailer in the United States. The company offers various dress, casual, and athletic footwear products for men, women, and children; and accessories, such as socks, belts, shoe care items, handbags, sport bags, backpacks, jewelry, scarves, and wallets.

Read More: Institutional Investors

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Shoe Carnival (NASDAQ:SCVL)

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